Germany's ZF to keep electric motor production in-house but with fewer staff

ZF said it will keep electric motor production in-house, but the company also signaled that hundreds of additional job cuts are needed to remain competitive. The update points to continued restructuring pressure rather than a major strategic shift. Impact is likely limited to ZF and the broader European auto supplier space.

Analysis

ZF said it will keep electric motor production in-house, but the company also signaled that hundreds of additional job cuts are needed to remain competitive. The update points to continued restructuring pressure rather than a major strategic shift. Impact is likely limited to ZF and the broader European auto supplier space.